Motor insurance is an insurance policy that aims to protect your vehicles, be it a two-wheeler, four-wheeler, or commercial vehicle, from any financial liabilities arising out of an accident or physical damage to the vehicle. The Indian Government mandates a basic Third-Party motor insurance for every vehicle owner in India.It reduces the third-party liabilities when the car causes damage to any third-party in an accident.
Motor Insurance is important for every vehicle owner because it reduces your financial liability in case of any damage/loss to the motor-vehicle. Moreover, when the driver-owner or persons in the car are injured in an accident, the motor insurance comes in handy when personal accident cover is opted.
